Fintel reports that on September 18, 2023, Guggenheim maintained coverage of Planet Fitness Inc – (NYSE:PLNT) with a Buy recommendation.

Analyst Price Forecast Suggests 59.40% Upside

As of August 31, 2023, the average one-year price target for Planet Fitness Inc – is 80.16. The forecasts range from a low of 54.54 to a high of $105.00. The average price target represents an increase of 59.40% from its latest reported closing price of 50.29.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Planet Fitness Inc – is 1,090MM, an increase of 12.37%. The projected annual non-GAAP EPS is 2.12.

What is the Fund Sentiment?

There are 732 funds or institutions reporting positions in Planet Fitness Inc -. This is an increase of 1 owner(s) or 0.14% in the last quarter. Average portfolio weight of all funds dedicated to PLNT is 0.31%, a decrease of 21.71%. Total shares owned by institutions increased in the last three months by 5.71% to 112,141K shares. The put/call ratio of PLNT is 0.87, indicating a bullish outlook.

What are Other Shareholders Doing?

SRS Investment Management holds 6,957K shares representing 8.23% ownership of the company. No change in the last quarter.

Amundi holds 3,253K shares representing 3.85% ownership of the company. In it’s prior filing, the firm reported owning 2,750K shares, representing an increase of 15.46%. The firm decreased its portfolio allocation in PLNT by 2.02% over the last quarter.

Champlain Investment Partners holds 3,103K shares representing 3.67% ownership of the company. In it’s prior filing, the firm reported owning 1,931K shares, representing an increase of 37.78%. The firm increased its portfolio allocation in PLNT by 36.48% over the last quarter.

CMGIX – Blackrock Mid Cap Growth Equity Portfolio Institutional holds 3,086K shares representing 3.65% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,674K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 2,585K shares, representing an increase of 3.32%. The firm decreased its portfolio allocation in PLNT by 17.14% over the last quarter.

Planet Fitness Background Information
(This description is provided by the company.)

Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of September 30, 2020, Planet Fitness had more than 14.1 million members and 2,086 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.